Red Tape Could Stall Developer Who Wants to Build Casinos in Vietnam
Building casinos that are new Vietnam is sold with a myriad of government roadblocks
For reasons uknown, in Asian and Russian countries, they like to zone off their casinos. Everything has to be in a designated ‘economic zone,’ perhaps showing that most things in these nations are not designed to make a lot of cash, at least not if they’re legal.
New Casinos on the Runway
Vietnam fits this mold, and legal gambling enterprises are still a fairly brand new concept here, as well as almost solely targeted at a foreign market, as locals are mostly barred from casino gambling. Now a high-profile Vietnamese businessman Dao Hong Tuyen, listed as a CEO to watch by the Japan Times wants to construct a brand new casino project via his Tuan Chau Groupand its US partners in the Van Don Administrative Economic Zone in Quang Ninh province into the northeast region of Vietnam. He also desires to get a gambling house going in Ha Long City on nearby Tuan Chau island, adjacent to a marina that is new will be opening up there.
If he could possibly get ‘er done, Tuyen would be one of only a handful of designers to crack the bureaucracy grid that has long held Vietnam lagging behind its brethren that are asian this arena. A huge sticking point for casino investors that are most was the somewhat odd dictum by the Vietnamese government that a the least US$4 billion be focused on any projected resort-casino plan; a number that is pretty daunting for also well-funded builders in the gaming industry these days.Continue reading